Flaherty & Crumrine Fund to rename itself and revise its 80% preferred securities policy
The Board of Flaherty & Crumrine Preferred Securities Income Fund approved on April 23, 2019 a name change to Flaherty & Crumrine Preferred and Income Securities Fund Incorporated, along with a revised investment policy. The fund will now invest at least 80% of its Managed Assets in preferred and other income-producing securities, instead of at least 80% of its assets in preferred securities, with the changes taking effect on or about July 5, 2019.
Key points
- Board approved the name change and policy changes on April 23, 2019
- Policy now requires at least 80% of Managed Assets in preferred and other income-producing securities
- Managed Assets is defined to include net assets plus certain loans, debt, preferred liquidation preference and reverse repurchase proceeds
- Changes take effect on or about July 5, 2019; the policy can be changed by the Board without shareholder approval
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2019.
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